Arris, Charter Acquire Activevideo Through New Joint Venture

Arris, Charter Acquire Activevideo Through New Joint Venture

ARRIS Group Inc. (NASDAQ: ARRS) (ARRIS) and Charter Communications, Inc. (NASDAQ: CHTR) (Charter) announced on April 14, 2015, that they established a joint venture that has agreed to acquire ActiveVideo® for approximately $135 million. ARRIS will own 65% of the joint venture company and will be the sales channel for ActiveVideo’s CloudTV platform. Closing of the transaction is expected to occur in the second quarter, subject to customary closing conditions, including receipt of necessary regulatory approvals.

“This joint venture signifies ARRIS’s continued investment in advanced software solutions that will create value across the entire video ecosystem,” said Bob Stanzione, ARRIS Chairman and CEO. “We look forward to the untold opportunities our extended partnership with Charter will spawn as we march together into the future. ARRIS and Charter are paving the way for an all IP network migration and enabling the software-defined TV experience that will deliver the unified, next-gen content experiences that today’s consumers demand.”

“ActiveVideo’s CloudTV platform is one of the enabling technologies behind Spectrum Guide. We have worked very closely with ActiveVideo on the development of this technology, and now, as a 35% shareholder, are uniquely positioned to support the continued innovation and marketplace adoption of ActiveVideo’s solutions,” said Tom Rutledge, President and CEO of Charter Communications. “Today’s announcement extends Charter’s long-standing relationship with ARRIS, who continues to be a key provider of both infrastructure and consumer premises equipment. We are excited to be partnering with them on this acquisition and to be continuing our collaboration on next-generation platforms.”

Jeff Miller will continue to lead ActiveVideo as CEO. “This joint venture gives us the ability to take ActiveVideo’s vision to the next level by partnering with two industry forces such as ARRIS and Charter. This is a great opportunity to extend the promise of ActiveVideo’s solutions,” said Jeff Miller.